2019.06.2402:56:00UTC+00Dutch Q1 GDP Growth Steady At 0.5%

The Dutch economy grew at a steady pace, as initially estimated, in the first quarter, final data from the Central Bureau of Statistics showed on Monday.

Gross domestic product rose 0.5 percent quarter-on-quarter in first quarter, the same pace as seen in the fourth quarter of 2018 and in line with the estimate published on May 14.

The growth was mainly driven by investments in fixed assets, while contribution from the trade balance was negative, data showed.

On a yearly basis, GDP growth eased to 1.7 percent annually in first quarter, as previously estimated, from 2.2 percent in the previous quarter. Economic growth slowed for the third straight quarter.

The Bureau of Economic Policy Analysis, or CPB, which is the government forecasting agency, last week projected Dutch economic growth to slow this year and next as global headwinds such as trade tensions and geopolitical factors weigh on exports.

The growth was seen at 1.7 percent this year and 1.5 percent in 2020.